David Ellison Of Skydance Media Acquires Office Properties From Paramount Global For $173.7M
1697 Broadway, 530 West 57th Street, 513 West 56th Street & , ,
$173,700,000
$63/SF
Building Size
919,431 SF
Asset Type
Office
Closing
Aug 7, 2025
About this deal
AI
The transaction involved an office asset located at 1697 Broadway, 530 West 57th Street & 513 West 56th Street in the Midtown West market. The property was sold for $173,700,000, encompassing a total square footage of 919,431, resulting in a price per square foot of $189.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $173,700,000
- Buyer: David Ellison - Skydance Media
- Seller: Paramount Global
- Transaction Date: 08/07/2025
- Square Footage: 919,431
- Price Per Square Foot: $189
David Ellison of Skydance Media represented the buyer in this acquisition of the CBS Broadcast Center and the properties from Paramount Global, facilitating the successful transaction.
On the Map
$173,700,000
$63/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93